At Fortrade, you will find the ultimate setting for effective online foreign exchange and CFD trading. We offer ultra-fast execution, zero commissions and up to 1:200 leverage on all major, minor and exotic currency pairs. Fortrade is authorised and regulated in UK by the Financial Conduct Authority (FCA), FRN 9970. and is a leading provider of online foreign exchange and CFD trading use trailing stops forex trading lessons note that trading Contracts for Difference (CFDs) and other leveraged products carries a high level of risk to your capital as prices may move rapidly against you.
Losses can exceed your deposits and you may be required to make further payments. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. In the FX Power Courses, we normally recommend using a 1:2 risk:reward ratio to determine that exit level. If you are risking 50 pips on the trade, you should look for a minimum of 100 pips in potential profit. This way, if you are able to maintain close to a 50% win ratio on your trades, you can be consistently profitable.
However, having the patience and discipline to wait for the market to reach that price level to take profits is much harder than it sounds. One of the recurring issues I see with new traders is their difficulty with exiting open positions. This is unfortunate as knowing when to exit a trade is vital for any trading plan, and is often what separates new traders from professionals in the Forex trading world.
With this in mind, today we will exam.